Honeywell International Inc. (NASDAQ:HON) is one of the 8 Best Quantum Computing Stocks to Invest In According to Hedge Funds.
On June 3, Reuters reported that Honeywell International Inc.’s Quantinuum raised $1.68 billion in a US IPO, pricing 28 million shares at $60 each as investor demand jumped for quantum computing plays. The company had already lifted its range to $53-$55 and increased the offering size to 26.5 million shares, showing solid interest, Reuters noted.
Reuters said Quantinuum will begin trading on NASDAQ under the ticker “QNT,” with J.P. Morgan and Morgan Stanley leading the offering. It added that Honeywell will retain about 48.1% voting power post-listing. Hence, keeping major control while tapping public markets.
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Formed in 2021 through the merger of Honeywell International Inc.’s quantum unit and Cambridge Quantum, the corporation has reported accelerating bookings in recent months despite having high development costs and an uncertain commercialization timeline.
Reuters cited that Wedbush analysts said more quantum listings “deepens the universe” and improves price discovery. It also added that Quantinuum’s early trading could “set the tone” for the market peers.
Honeywell International Inc. is a software industrial firm that provides specific industry solutions for aerospace and automotive products and services. It works in the following Aerospace Technologies, Industrial Automation, Building Automation, Energy and Sustainability Solutions, and Corporate and Other segments.
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